Vendors to focus on expansion of production capacities to strengthen their foothold in the competitive market.
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five vendors for the global corrosion monitoring system market in their latest research report. This report also lists 13 other prominent vendors who are expected to contribute to this market’s growth between 2017-2021.
Competitive vendor landscape
The global market for corrosion monitoring systems is intensely competitive in nature. Vendors in the market compete on the basis of product features, prices, customized solutions, and monitoring services offered. The sales of probes and other instrumentation for corrosion monitoring systems take place through direct and indirect sales via suppliers and local representatives, certified distributors or dealers, contractors, and integrators. Geographical expansion is the key area of focus for the established players in the market. Vendors also emphasize on increasing production capacities, gaining contracts for monitoring services from end-user industries, and upselling products by upgrading the existing technology.
According to Bharath Kanniappan, a lead analyst at Technavio for research on automation, “Industries, such as oil and gas, chemical, power generation, marine, food and beverages, paper and pulp, and aviation, prefer established vendors due to their high brand value and expertise in corrosion monitoring techniques. High R&D investments by these vendors have led to rapid advances in the corrosion monitoring technology, resulting in the development of modern probes and corrosion monitoring methods to address and fulfill needs of end-users.”
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Top five vendors in the corrosion monitoring systems market space:
ClampOn
ClampOn’s major functions and operations are on the topside and subsea monitoring systems. In addition, the company provides software solutions. The oil and gas industry is one of the major end-user segments that utilizes ClampOn’s services. The company’s corrosion monitoring system monitors and quantifies the differences in wall thickness over a large area of pipelines.
Key products and services: Well test and rental, Field service, ClampOn corrosion-erosion monitor, ClampOn subsea corrosion-erosion monitor, and CAN monitor.
Emerson
Emerson manufactures products and provides engineering services. Its major operating segments are process management, network power, industrial automation, climate technologies, and commercial and residential solutions. The company provides systems for monitoring the corrosion conditions of pipelines and subsea assets, and gives an early alarm during the failure of the corrosion monitoring system.
Key products and services: Measurement instrumentation, Valves, actuators, and regulators, Control and safety systems, Operations and business management, and Roxar CorrLog & SandLog wireless transmitters.
Honeywell
Honeywell is a multinational diversified technology and manufacturing company that caters to clientele ranging from small-scale private consumers to large-scale clients. The company plays a vital role in providing various products to a wide variety of industries, including aerospace and defense, oil and gas, petrochemicals and biofuels, automotive and transportation, construction, and healthcare.
Key products and services: Advanced software, Control, monitoring, and safety systems, Industrial security, Marine, and SmartCET 5500 HART-wired corrosion transmitter.
Intertek
Intertek is one of the leading total quality assurance providers of services to industries, such as chemical, oil and gas, food and healthcare, construction, transportation, and engineering. They also provide products, such as machinery and tools, IoT and software, and other appliances. They provide services for assurance, testing, inspection, and certification of products that are needed for end-user industries.
Key products: Forensic engineering and failure analysis services, Corrosion and materials consultancy, Corrosion probes (M3, M4, M6, and M9 corrosion monitoring probes), Detection of flow-accelerated corrosion, and Reservoir souring prediction and mitigation.
SGS Group
SGS is a multi-national company that provides inspection, verification, testing, and certification services for end-user industries. It offers services, such as inspection and verification of the quantity, quality testing, safety and regulatory standards, and product and service standards. It serves industries, such as agriculture, food and beverages, automotive, aviation, chemical, construction, consumer goods and retail, power generation, finance, industrial manufacturing, logistics, mining, oil and gas, and the public sector.
Key products and services: Testing, Consultancy, Verification, Fitness for service assessment, Gap fill services, and Inspection and maintenance program for potentially vulnerable items.
A more detailed analysis is available in the Technavio report, Global Corrosion Monitoring System Market 2017-2021. Technavio also customizes reports by other regions and specific segments upon request.
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